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Siemens acquiring Solel Solar Systems


November 4, 2009
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Siemens AG (www.siemens.com) is acquiring the solar-thermal power company, Solel Solar Systems Ltd. (www.solel.com).

Solel has a workforce of over 500 and is a supplier of solar receivers (components of parabolic trough power plants). The company is also a player in the planning and construction of solar fields.

“Together, we will utilize our know-how in these core competencies to
further optimize the water/steam cycle and to further boost the
efficiency of solar thermal power plants. Thus we can accelerate the
use of this clean technology,” said Avi Brenmiller, CEO of Solel Solar
Systems.

The closing is expected to take place before the end of the year.